Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    17.98 Acres on Alexis Drive Title is generated by Realmo AI

    136 Alexis Drive, Bristol, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    17.98 acres of mixed-use land in Bristol, Virginia.

    Type:INDUSTRIAL
    Property size:
    67,108 SF
    Lot size:
    19.86 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    180
    Last Refresh:
    Apr 5 at 8:18 pm

    Property Features for 136 Alexis Drive

    General Information

    Standard status
    Active
    Size
    67,108 SF
    Lot size
    19.86 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Fred McClellan, CCIM
    Fred McClellan, CCIM

    Listing agent Fred McClellan, CCIM License #0225186741

    Listing office Virginessee Real Estate Consultants

    Listing date Nov 24, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Virginessee Real Estate Consultants

    HighLights

    • 17.98+/- acres rezoned to FRD zoning for flexible mixed‑use development: commercial, residential, light manufacturing, or warehouse.
    • Located on Alexis Drive at the intersection of Lee Highway, offering good visibility and access.
    • Situated between I‑81 Exits 5 & 7, providing convenient transportation access.
    • Adjacent to existing commercial and residential properties.
    • Potential alternate uses are available.
    • Located in Bristol, VA.

    Overview

    This property features 17.98 acres located on Alexis Drive in Bristol, Virginia, at the intersection of Lee Highway. It has been recently rezoned to FRD zoning, allowing for mixed-use development. This designation for former industrial locations promotes a mix of residential, commercial, and potentially light manufacturing or warehouse space. The property is situated between I-81 Exits 5 and 7, adjacent to commercial and residential properties, offering a convenient location with good visibility and access. Potential alternate uses are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.1343
    Latitude
    36.6305

    Nearby Similar for Lease

    • $1,700/Mo
      1,750 SF

      Retail Space Near Hard Rock Casino

      Flexible retail space located near the Hard Rock Hotel & Casino.
      2205 Euclid Avenue, Bristol, VA 24201
      View Details
    • $3,000,000 SF/Yr
      15,000 SF

      Multi-Family Investment Opportunity in Bristol

      20-unit multi-family property for rent in Bristol, Virginia.
      1740 Bonham Road, Bristol, VA 24201
      View Details
    • $142,000 SF/Yr
      1,700 SF

      Versatile Commercial Building on Commonwealth Avenue

      Large building with high visibility, suitable for various business uses.
      471 Commonwealth Ave, Bristol, VA 24201
      View Details
    • $2,400,000 SF/Yr
      43,000 SF

      Versatile Commercial Space in Bristol, VA

      Adaptable commercial property near downtown Bristol, suitable for diverse uses.
      250 Commonwealth Ave., Bristol, VA 24201
      View Details
    • $17,500/Mo
      43,000 SF

      Versatile Commercial Space in Bristol

      37,000 SF commercial space suitable for various business ventures.
      250 Commonwealth Avenue, Bristol, VA 24201
      View Details
    • $36,502 SF/Yr
      62,574 SF

      Former Coca-Cola Distribution Center

      High-traffic location near Hard Rock Cafe Casino and I-81.
      1913 W State Street, Bristol, VA 24201
      View Details
    • $750/Mo
      1,157 SF

      Downtown Bristol Industrial-Style Studio Space

      Industrial-style, second-floor studio space in downtown Bristol available for rent.
      629 State Street, Bristol, VA 24201
      View Details
    • $6 SF/Yr
      9,670 SF

      Bristol Commercial Space with B-3 Zoning

      Versatile commercial property in Bristol with showroom, warehouse, and office space.
      1615&1617 W State Street, Bristol, VA 24201
      View Details
    • $5,100,000 SF/Yr
      62,574 SF

      Former Coca-Cola Distribution Center

      High-traffic location suitable for various commercial and industrial uses.
      1913 W State Street, Bristol, VA 24201
      View Details
    • $1,050,000 SF/Yr
      9,670 SF

      Bristol Commercial Property with Flexible Layout

      Versatile commercial space with showroom, warehouse, and office areas.
      1615&1617 W State Street, Bristol, VA 24201
      View Details
    • Contact for pricing
      10,000-10,000 SF

      Restaurant Ready in Downtown Bristol

      Two-story restaurant with equipment in a busy downtown location.
      221 Moore St, Bristol, VA 24201
      View Details
    • $7 SF/Yr
      59,153 SF

      Retail Space Available for Lease

      Retail property with 59153 square feet available for rent.
      2002-2014 Lee Hwy, Bristol, VA
      View Details

    FAQs

    What type of property is this?
    Commercial land - 17.98 acres of mixed-use land in Bristol, Virginia.
    Where is this commercial land located?
    The property is located at 136 Alexis Drive Bristol, VA.
    What are key features of this property?
    This property features: 17.98+/- acres **rezoned to FRD zoning** for flexible mixed‑use development: commercial, residential, light manufacturing, or warehouse.; **Located on Alexis Drive at the intersection of Lee Highway, offering good visibility and access.**; Situated between I‑81 Exits 5 & 7, providing convenient transportation access.
    (276) 492-3839 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Fred McClellan, CCIM
    Fred McClellan, CCIM
    Real Estate License ID: 0225186741
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    136 Alexis Drive, Bristol, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!